Controlling Overhead Costs
If it’s been some time since you took a good look at your medical or dental practice’s overhead costs, you may be missing out on opportunities to boost profitability. Here are some key areas to scrutinize: Staffing Your biggest expense is probably the cost of staffing your medical or dental practice. There are several ways […]
An Introduction to Socially Responsible Investing
1. What is socially responsible investing (SRI)? Socially responsible investing, along with sustainable and impact investing, takes into consideration social, ethical, environmental and corporate governance and applies one or more of these criteria as an additional filter during the investment selection process. Simply put, it is a way for an individual or an organization to […]
Marketing Your Medical Practice
Your patients are becoming more responsible for paying for their healthcare costs due to High Deductible Health Plans. As a result, they are researching their options in terms of treatment and providers. Therefore, it is imperative for practices to pay attention to how they are perceived by these potential “customers”. When marketing your medical practice. […]
Critical Financial Metrics for Medical Practices
Keeping a close eye on the financial health of your medical practice is essential, but it also can be time consuming. Instead of sifting through reams of data, it can be useful to identify metrics that will alert you to important issues early on. Here are some key financial metrics to consider emphasizing in your […]
Active Wealth Management over the last five years and CIG’s Approach
As has generally been true since the market turn in 2009, active investing over the last five years has been especially difficult. Traditionally, active wealth management meant active investors sought to buy the highest quality companies at the cheapest price. However, a review of stock prices since 2014 reveals this strategy has been hard to […]
Why is employing an active investment strategy important today?
Successful investing in the future will look different. During the current bull market (a period over the last 10 years where stock prices have risen consistently), passive investment strategies have reigned supreme. A buy and hold strategy allowed an investor to ride the market up. All without having to do a lot of critical evaluation […]
Using 529s as a tax-free gifting tool
529 plans can be a fantastic way to save for education expenses, but did you know they can also be used as a key part of your family’s gifting plan (i.e., estate plan), even if you don’t have children or intend to use the money for college or K-12 approved tuition expenses. The key here […]
Find your 529 plan’s Magic Savings Number
A quick glance at the tuition page of a favorite college or university’s website is enough to give parents or grandparents sticker shock. Tuition has grown faster than inflation for more than two decades, long to enough to drive the average annual cost of a public four-year college in 2018-2019 to $10,230 for in-state tuition […]
Importance of Budgeting for Private Medical Practices
Budgeting for Private Medical Practices As in any other business, a budget can be an important management tool for a private medical practice. A budget is a way for you to measure and keep track of both revenues and expenses. Budgeting for private medical practices helps you identify and fix any inefficiencies in your practice […]
Ophthalmology Practice Valuation Strategies
A practice valuation exercise can enhance the overall optimization of your ophthalmology practice, as well as allow you to comfortably entertain potential acquisition offers. In addition to obtaining an idea of what your practice is worth, the economic climate, competitive landscape, and private-equity infusion of funds should also influence the path you decide to take. […]